Prince Alwaleed is going to give $32 billion to charity

Owner of Saudi Arabia's Kingdom Holding, billionaire Prince Alwaleed bin Talal attends the traditional Saudi dance known as 'Arda', which was performed during Janadriya culture festival at Der'iya in Riyadh Thomson Reuters RIYADH (Reuters) - Saudi Arabian billionaire Prince Alwaleed bin Talal, the chairman of Kingdom Holding, will donate $32 billion to charity in coming years via Alwaleed Philanthropies, he said on Wednesday.

The sum represents his entire wealth, he told a news conference in Riyadh, and will be given to charities including those that promote health, disease eradication, disaster relief and women's rights. He did not say in an initial statement what impact, if any, it would have on his holdings.